The Bank of Japan (BOJ) announced that it will conduct consecutive unlimited fixed-rate purchase operations for Japanese Government Bonds (JGBs).

The Japanese central bank will conduct consecutive unlimited fixed-rate purchase operations for 10-year JBGs at 0.25% on April 27 and 28.

The BOJ offered to buy unlimited amounts of 10-year JBGs at 0.25%.

Market reaction

USD/JPY has returned below 128.00, with the latest headlines supporting the demand for the yen alongside a cautious market mood.

At the time of writing, the pair is trading at 127.82, down 0.23% on the day.